The risk mood is slowly deteriorating after a strong start. The S&P 500 is up just 10 points after rising is much as 50 pips. The trend has been steady and I haven’t seen any headlines that would explain the moves. I’d chalk it up to angst around the election.
AUD/USD is now trading at the lowest since August 15.
AUDUSD 30 mins
What’s particularly worrisome is that Treasury yields are ticking higher again. There was a NYT/Sienna poll today that showed some momentum for Trump and that could have bond buyers worried about a red sweep and larger deficits.
